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CHRISTINE QUINN'S PROPOSED LEGISLATION

06/24/2008

For a taste of what the future will look like in the event of City Council Speaker Christine Quinn’s ascension to the mayoralty of New York, take a look at this June 16, 2008 article from the NEW YORK CITY APARTMENT LAW INSIDER that summarizes Ms. Quinn’s opinion about the new state “Rent Guidelines Board Reform Bill.”

If given the chance, this bill will serve as the beginning of multiple “anti-landlord” and “anti-ownership” pieces of legislation that Ms. Quinn will almost certainly shepherd through the system.

The serious pitfalls with this proposed legislation include the following:

  • “The automatic denial of Rent Increases for any apartment with serious violations.” Pursuant to the authority that was issued by the State Legislature, the DHCR already has such power. Why there should be a second level of oversight in this area is anyone’s guess.

  • “Stacking” the Rent Guidelines Board in favor of tenants to include six tenant and “public” members out of a total of nine. Ms. Quinn couldn’t be any clearer in her wish for the end of private ownership of real estate in the City of New York.

 

Require the use of “income and expense numbers” when determining whether a rent increase is warranted.

We’ll have to watch the mayoral election closely over the next twelve months. It is critical for the real estate industry to ensure that Ms. Quinn remains in the city council for her next term. --Edward E. Klein

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